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October 11, 2004

economy tied to innovation

The Modesto Bee had an interesting article this weekend about innovation and the growth of the technology industry.  It is skewed toward the expansion of technology companies and technology purchasing, but it is also an interesting read to see yet again, the economy is fundamentally tied to innovation.

In the past, there was a strong correlation between technological innovation and broad-based stock rallies, especially when those innovations were readily useable by corporate America. From the introduction of the IBM personal computer in late 1981 to the rise of the Internet and server-client corporate networks in the early to mid-1990s, the need to keep up with the times kept companies spending - and kept technology firms coffers overflowing.

But now, there's no overriding reason to spend big on technologies because the innovation of the 21st century has been incremental, rather than revolutionary.

Posted by Douglas Sorocco at 02:30 PM.
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